Spark Notes
News & Updates from Spark Financial Services
December 2015
Happy Holidays from our Founder & CEO!
All the best,
Monique Bowens
monique@sparkfinancialservices.com
(214) 830-1944
Please take 2 minutes & submit a testimonial to share your experience with our potential clients. Submit a testimonial from NOW through January 31, and be entered in a drawing to win FREE tax prep for 2016! Winner to be announced 2/1.
TAX SEASON OPENS JAN 19, 2016 The IRS will begin accepting returns on January 19, 2016 for the 2015 tax year. You can book an appointment ahead of this date if you have your paperwork ready and your file will be in the queue to be received by the IRS when the season opens. | Yes, we PAY for referrals Do you have a friend or family member that could benefit from a honest, reliable and accurate tax service? Send them our way. We will pay you $20.00 for each referral and we will give them 20% off their tax prep fees! | New Partnerships! Spark Financial has been working on some pretty awesome partnerships to bring more services to our clients in 2016. Stay tuned for announcements of these partnerships in future newsletters! Exciting! |
TAX SEASON OPENS JAN 19, 2016
Yes, we PAY for referrals
View my online calendar and get ahead of the rush to book your tax appointment.
A Little Tax Humor...LOL
December Tax Tip - Standard Deduction vs. Itemized Deductions
When tax season rolls around, many people show up to their tax preparation office with their W-2(s) and maybe a few dependents and take all of the allowable standard deductions available to them. This generally works WELL for most taxpayers but for some others, they could be leaving money on the table by NOT itemizing their deductions.
Generally, the IRS allows you to DEDUCT from your income '$X' amount of dollars depending on your filing status as a standard deduction. You can take this standard deduction that they GIVE you OR you can itemize. The IRS will allow you to take the GREATER deduction of the two.
2015 Standard Deduction by filing status
- Single - $6,300
- Married persons filing separate - $6,300
- Married persons filing jointly - $12,600
- Head of Household - $9,250
If the sum of your eligible itemized deductions will be MORE than your standard deduction as listed in the table above, you might want to look into itemizing to receive the best benefit. Head on over to the website to view the latest blog post regarding what is considered eligible itemized deductions.
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